By Daxim Lucas
Philippine Daily Inquirer

FINANCIAL losses of the tobacco tycoon Lucio Tan’s Eton Properties Philippines Inc. widened significantly at the end of last year as the company embarked on an aggressive spending program to get its first projects off the ground.

But its total assets were close to hitting the P1-billion mark a year after it was founded, Eton said.

In a statement, Eton said its net loss at the end of 2007 reached P146.7 million, 664-percent bigger than the P19.1-million loss it reported in April last year.

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By Elizabeth Sanchez-Lacson
Inquirer

MANILA, Philippines–Eton Properties Phils. Inc., the property arm of the Lucio Tan Group, launched on Monday its second condominium project in Greenbelt, Makati City, which targets professionals working in the central business district.

Eton president Danilo Ignacio said during the launch that the 34-story Eton Parkview Residences is on Gamboa Street behind the Asian Institute of Management.

The project will offer 230 all-loft units. A one-bedroom unit ranges from 40 to 57 square meters, and will sell at about P3.6 million.

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